If he dies should I have to pay sisters?

Question

Ned and I have been together for twenty years. Ten years ago Ned lent me fifty thousand dollars to remodel an apartment building.

I have been repaying this loan ever since. I pay about $5000 a year interest only, so I still owe him $50,000.

I read Ned's will. Not only has he not left a dime to me, he wants me to continue to repay the loan to his sisters.

Is this fair????

We are all in our sixties they have husbands and are otherwise well taken care of. If Ned dies, I will not have a husband or significant other. ...And will no longer have Ned's help in sharing expenses.
These sisters live a thousand miles away and have their own immediate families. They have little to do wih Ned and if he were ill they would feel no obligation to be there for him.
On the other hand I love Ned and it is understood I would stand by him and care for him. as would some of my family whom have been so close to him over the years.
Do you think I should be obligated to his sisters?

Answer 1

Lady, you have wasted 20 years of your life with a man that cares NOTHING for you. He charges you interest, leaves everything to his sisters when he dies, and still uses you even today....to "care" for him. I'd hand him a note to sign, marked "Paid in Full", then when he signed it, I'd pack my things and leave. He has used you long enough!

Answer 2

Not only are you being used, he is overcharging for this loan.
If that loan was ten years ago, presumably, you now have some equity.
Go get a bank loan at about 5% right now and pay his principal off.
You are paying 10% annually! ! ! ! ! Banks would be less! ! ! !
You have been paying for 10 years and have not touched principal!
This guy has it all. You are paying him for a loan, acting as wife with no legal recourse. He left you NOTHING after a 20 year relationship. You have been hoodwinked. He gets it all you get well, you know.
Pay this user off and chase him out of your life. Go find a guy who will do an honest deal with you.

Normally I would not suggest this but it seems he has no conscience.
Did you sign a note? Is there any proof of this transaction? He deserves you to tell him that you have paid him all he is going to get. That money was a gift wasn't it? If he does not have anything in writing you should stiff him for it. Then move out.
This has more to do with his using you than it does this deal.

If he has a note, and why wouldn't he with his dealings, go get a long term mortgage note with a bank, pay this SOB off and dump him. Let him go find another chump to use.

Answer 3

Have you discussed this with Ned and presented the facts to him in this manner? Your argument seems to make sense, but legally, the debt is yours to pay as directed unless you can persuade Ned to change the will. If you haven't already discussed this with him, now is the time to do so. Think through what you want to say, be calm and reasonable and try to see both sides. I wish you luck.

Answer 4

A better question is why are you paying Ned if you are together? Given that this makes sense to you yes you have to pay the sisters. This is a business issue, not a relationship issue. You borrowed the money, you have to pay Ned or his estate.

Answer 5

something is wrong here. he lent you $50,000 10 years ago, you have already paid him $50,000 yet you still owe him the full amount?! I'm incredulous that your partner would do that to you and still leave everything to his sisters, who he has little to do with, in his will? I've heard of loan sharks but never one that loaned his own family at the same rate! if i were you i would begin taking legal advice about both this loan and the will. you may be better off borrowing now to pay him the loan back. you'll probably get a better rate. i wish you much luck

Answer 6

I'm not your age but still a mature, middle aged woman and we both know the score, don't we? You should have gotten married if you wanted to be respected.
You accepted a very large amt. of money when you needed it from someone as a loan, and you haven't paid it off yet. You stalled for 10 years because you thought you could get around re-paying it. Now it has backfired in your face. You did not consider it a loan or you would have paid on the principal. His sisters are his blood family, yes you would owe them this money out of his estate.
You are a rebellious woman when it comes to legalities. Being his lover or his nursemaid does not allow you to avoid paying your debt to this man. You've had no respect for yourself, this man, your 'union', his relatives or your financial responsibility.

Answer 7

I think Ned is an A$$ for charging you interest on a personal loan when you "love" him and take care of him. What a piece of crap!

Answer 8

Ned has made his discission and has expressed it in his wil. Now I think its time that you make yours. Do you want to stick by a person that even up on his death would require a person who took care of him to have to pay a debt? Think about it. Good luck

Answer 9

When you borrow, you pay back---even if the loaner is dead. You can't say that because someone is well-off, you don't have to take responsibility.
I can't stand the mentality of you people who feel that because they're poor,youy're off the hook. A lot of people are poor due to being irresponsibile and lazy in the first: teen pregnancy, dodging bills or forgoing education.
I have disabilities;I have never had my own place due to it. I'm still home and working a deadend restaurant job. I can't stand how people think it's all right to take my magazine because I'm well-off. The same person is ready to fight when robbed of something.

Answer 10

If you borrowed the money and knew full well what you were getting into, than it is considered a debt. Plus you've already been paying it back so in the eyes of the law you agreed to the terms. Morally I disagree with it, but legally you subjected yourself to it.